Business

Facing the crisis with pride
by Barbora Misakova

France 24 brings us another interview, this time with Gerard Mestrallet, chairman and CEO of GDF Suez – French-based energy company which activates in the fields of electricity generation, distribution, natural gas and renewable energy. Because of the global recession, most of the companies have to face its devastating effects. But GDF Suez is one of just few companies which manage to buck the trend. As Raphael Kahane pointed out, GDF Suez’s annual profit increased by the 13 percent to 6.5 million Euros what seems like the company wasn’t hit by the economic downturn at all. The company’s chairman said the first three quarters 2008 were “very strong, very good” but in last quarter they were facing some decline connected with decrease of energy prices. After the successful merge of Suez with Gaz de France (GDF) in July 2008, Mestrallet created a giant that dwarfs any British or American utility. As GDF Suez became the largest buyer and selle! r of natural gas on the European continent, France didn’t have to be afraid of Russian-Ukrainian relations and its effects. The solution for Europe’s energy future was in diversifying and combining supplies from other countries such as Norway, the Netherlands, Algeria and others. As he said in the interview the Russian gas represents 15 percent of their supply and the perspective of new crisis is a very bad news for the gas sector and the gas industry, because of the impact on image of gas industry and gas itself. But as Mestrallet pointed out, for the French consumer there is no such a threat as GDF Sues is able to supply all his clients totally without reduction.

related story (sgx16330): http://www.france24.com/en/20090306-business-interview-gerar...

by Barbora Misakova for SigEx Ventures (http://sigexventures.com)

SigEx Ventures's matrix of properties are quickly becoming leaders in digital telebroadcasting, free content delivery allowing people to easily talk, view, upload and share through free online TV broadcasting, free unlimited global calls, video blogs and SMS. SigEx Ventures invests in projects deploying "free" to add-on royalty revenue models

posted by Blog TechSource @ 11:50 PM